Franklin Federal Correlations

Mutual Funds . USA . 
Fund . Franklin Federal Intermediate Term
FCITX Fund  USD 11.07  0.01  0.09%   
The current 90-days correlation between Franklin Federal Int and Wells Fargo Spectrum is 0.32 (i.e., Weak diversification). The correlation of Franklin Federal is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Franklin Federal Correlation With Market

Modest diversification

The correlation between Franklin Federal Intermediate and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Federal Intermediate and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Franklin Federal Intermediate Term. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Franklin Mutual Fund

  0.89TEBIX Franklin Mutual BeaconPairCorr
  0.88TEDMX Templeton DevelopingPairCorr
  0.9TEDIX Franklin Mutual GlobalPairCorr
  0.9TEDSX Franklin Mutual GlobalPairCorr
  0.9TEDRX Franklin Mutual GlobalPairCorr
  0.87TEFRX Templeton ForeignPairCorr
  0.87TEFTX Templeton ForeignPairCorr
  0.86TEGBX Templeton Global BondPairCorr
  0.89TEGRX Templeton GrowthPairCorr
  0.87TEMFX Templeton ForeignPairCorr
  0.88TEMGX Templeton Global SmallerPairCorr
  0.89TEMEX Franklin Mutual BeaconPairCorr
  0.87TEMMX Templeton EmergingPairCorr
  0.87TEMIX Franklin Mutual EuropeanPairCorr
  0.9TEMWX Templeton WorldPairCorr
  0.9TEMTX Franklin Mutual SharesPairCorr
  0.9TEMQX Mutual QuestPairCorr
  0.84FQCTX Franklin Necticut TaxPairCorr
  0.88SAIFX Clearbridge Large CapPairCorr
  0.89SAGYX Clearbridge AggressivePairCorr
  0.87TEMZX Templeton EmergingPairCorr
  0.87FQEMX Franklin Templeton SmacsPairCorr
  0.9TEQIX Franklin Mutual QuestPairCorr
  0.89TEPLX Templeton GrowthPairCorr
  0.89TWDAX Templeton WorldPairCorr
  0.9TESIX Franklin Mutual SharesPairCorr
  0.88TESGX Templeton Global SmallerPairCorr
  0.9TESRX Franklin Mutual SharesPairCorr
  0.81LGGAX Clearbridge InternationalPairCorr
  0.87TEURX Franklin Mutual EuropeanPairCorr
  0.85LGIEX Qs International EquityPairCorr
  0.63FQLAX Franklin Louisiana TaxPairCorr
  0.9TEWTX Templeton WorldPairCorr
  0.89SAPYX Clearbridge AppreciationPairCorr
  0.89SASMX Clearbridge Small CapPairCorr
  0.84FQNCX Franklin North CarolinaPairCorr
  0.8WAADX Western Asset SmashPairCorr
  0.86WAARX Western Asset TotalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Franklin Mutual Fund performing well and Franklin Federal Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Franklin Federal's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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